Nahyan bin Mubarak opens a conference "Chartered Accountants in India" In Dubai…and confirms the solidity of the Emirati-Indian partnership

DUBAI, June 28 / WAM / His Excellency Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence, stressed that the relations between the United Arab Emirates and the Republic of India represent one of the strongest and most dynamic partnerships in the world, based on solid foundations of trade and investment, common values, mutual respect, and the exceptional contributions made by the Indian community in various aspects of life in the country.

This came during His Excellency’s inauguration of the annual conference of the Institute of Chartered Accountants in India – Dubai Chapter (ICAI Dubai Chapter), which was held under the slogan “The Path of Resilience… The Story of Rise Again”, with the participation of more than 700 members of the Institute and their families, coinciding with the celebration of the seventy-eighth anniversary of Chartered Accountant’s Day, and in commemoration of the founding of the Institute in 1949.

In his speech, His Excellency addressed the importance of the theme of the conference this year, pointing out that steadfastness represents an essential characteristic that requires confidence in oneself, in others, in institutions, and in the future. He explained that this concept includes the ability to manage risks, deal successfully with emergency circumstances, and make wise decisions under pressure, stressing that steadfastness is built through discipline, good preparation, good judgment, and constant insistence on what is right.

His Excellency pointed out that the UAE embodies these values ​​in reality every day, especially during the recent period that witnessed regional conflicts and a state of uncertainty, as the leadership maintained its calm, the institutions remained strong, the economy was confident, and the people stood together in remarkable unity, which proved to the world the UAE’s determination and ability to overcome all challenges.

His Excellency the Minister of Tolerance and Coexistence stressed that this steadfastness did not come by chance, but rather is the result of decades of wise leadership, investment in people, and building strong institutions, praising the efforts of His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the State, “may God protect him,” in consolidating peace, opportunities, and prosperity, which strengthened the country’s ability to respond to changes and consolidate its international standing.

His Excellency also pointed out that Dubai’s vision is inspired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, may God protect him, whose commitment to innovation has contributed to transforming Dubai into a global business center, stressing that the country’s leaders provide a pioneering model in building a society that enjoys peace and tolerance and in which the attributes of strength and resilience are rooted.

His Excellency touched on the pivotal role of chartered accountants in strengthening the economic partnership between the UAE and India, describing accounting as the language of business, and accountants as those entrusted with recording financial performance and establishing trust, which is the backbone of the success of companies and economies.

His Excellency stressed the need for accountants to keep pace with the rapid changes in their profession, such as artificial intelligence, which will automate routine tasks, in addition to sustainability and digital finance, stressing at the same time that these technologies will not replace wisdom, integrity, or professional responsibility, which will increase in importance in the coming years.

His Excellency also pointed out the importance of the family nature of this meeting, especially in the “Year of Community,” explaining that strong families build strong communities, and that the accounting profession contributes to helping families and entrepreneurs plan for the future with confidence.

His Excellency concluded his speech by praising the Institute’s branch in Dubai for its role in promoting knowledge, serving society, and consolidating the bonds of friendship between the UAE and India, wishing them to continue their commitment to excellence and inspiring future generations.

For his part, Dr. Deepak Mittal, Ambassador of the Republic of India to the UAE, confirmed that India has today become the fifth largest economy in the world, with a gross domestic product exceeding 4.4 trillion US dollars and an annual trade volume of about 1.8 trillion dollars.

He highlighted the strength of the Emirati-Indian partnership as a story of success and steadfastness, noting that the volume of trade exchange exceeded $100 billion annually during the past two years, and appreciated the role of the Indian community as a vital bridge that strengthens these relations.

In the same context, Arun Singh, a member of the Council of States in the Indian Parliament, explained that his country, under the leadership of Prime Minister Narendra Modi, has maintained its position as the fastest growing major economy over the past four years, through comprehensive national initiatives such as “Digital India” and “Make in India.”

Singh reviewed the investment opportunities available through foreign currency deposit accounts (FCNR), noting that the deposits of non-resident Indians rose to about $166 billion, of which $33.7 billion were through these accounts, in addition to the growing investment opportunities in emerging companies and capital markets. He praised the national and professional role of chartered accountants working in the Emirates in supporting the country’s steadfastness despite regional challenges.

On the professional level, Rishi Chawla, President of the Institute of Chartered Accountants of India – Dubai Branch, explained that the chartered accountant plays a role similar to that of a doctor in diagnosing the financial health of institutions and companies, to ensure their sustainability and recovery from crises through professional discipline. Amit Khaitan, Vice President of the branch, emphasized that trust is the foundation on which businesses are built and investments grow, considering that creating trust is the profession’s message that transcends challenges towards recovery and return again.

The conference also witnessed the participation of Indian artist Mahima Chaudhry, who gave a living testimony about the concept of resilience by reviewing her personal experience in recovering from a serious traffic accident and then being diagnosed with cancer, stressing the importance of community support and persistence, and calling on Indian youth to enhance the spirit of innovation and leadership to overcome all challenges.

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